I have a 2007 stock v6 mustang was christmas shopping last night and made it to the mall no problem. On my way back I hear this distant screeching noise which caught my attention. I happened to notice steam in my rear-view mirror and I immediately pulled over and noticed a massive amount of steam coming out of my hood.

My radiator fluid is getting completely drained and I've been flowing water through it. It seems like a very big leak and I'm not sure why or how it happened out of no where! I'm not sure where to look and it seems like this can be a very expensive bill if I take it to an auto care shop. We may believe it could be a gasket leak, but any other thoughts are really appreciated.

Thanks guys!

 

Most likely the thermostat housing has split, very common on the 4.0. If you look in the 4.0 section there is a metal replacement now available that you should look at.

Take a look at the thermostat housing area, particularly the back side. That is where it usually splits and spews under your intake manifold. It can look like there is a water pump problem because of the drips, but 99% of the time it is the housing.